Nazara Technologies Raises Rs. 900 crore, Boosting its stake in Absolute Sports (Sportskeeda) to 91%

Nazara Technologies plans to raise Rs. 900 crore through a preferential equity issue, pending shareholder and regulatory approvals. The funds will support strategic acquisitions and business expansion. Notable investors include SBI Mutual Fund and various financial firms, strengthening Nazara's long-term growth prospects.

Additionally, Nazara has acquired a 19.35% stake in Absolute Sports Pvt. Ltd., parent company of Sportskeeda, for INR 145.5 crore, increasing its total ownership to 91%. Sportskeeda, which has a strong global reach, continues to grow through acquisitions, including Pro Football Network and SoapCentral.

Nitish Mittersain, CEO & Jt MD of Nazara Technologies Limited remarked “Nazara has demonstrated its ability to attract top-tier investors who believe in our long-term vision of establishing India’s first globally respected gaming powerhouse. This INR 900 crores fundraise will be instrumental in accelerating our growth across key segments. Additionally, increasing our stake to 91% in Absolute Sports (Sportskeeda) reinforces our leadership in the sports media landscape. The growth of Absolute Sports, from its early days as a startup to becoming a global media player, underscores our commitment to supporting innovative teams that consistently deliver transformational growth."